The development bylaws allow for the construction of 12 metre-high structures - bringing into play logistics, warehousing and freight-forwarding building users, wanting to take advantage of the property's immediate position adjacent to State Highway 26, which links Morrinsville and Hamilton.
The land is being marketed for sale by auction on October 27 by Bayleys Waikato; it features in Bayleys' latest Total Property portfolio magazine.
Bayleys Waikato salesman Josh Smith said with Morrinsville's commercial zone spreading toward Hamilton, this site was the next geographical progression.
"Morrinsville's commercial activity is growing in line with the general dairy-reliant economy of the Waikato and the population growth of Hamilton and its satellite townships within commuting distance of the city, says Smith.
"As such, both existing businesses within Morrinsville, and new enterprises coming into the region are looking for premises to occupy.
"Some of that can be accommodated in the CBD. However, for other businesses, expansion will see the previous city/country belt encircling Morrinsville stretch further out into what were previously considered the fringe countryside locations."
The Matamata Piako District Council's Town Strategies 2013-2033 Morrinsville document says there will be a demand for 13 hectares of industrial land by 2033. It is also estimated that there will be a demand for eight hectares of business land by 2033."
Smith said site for sale sat within the precinct identified by the report as the preferred area for business and industrial premises expansion.
"Freight movements are likely to be predominantly from, and to the west (of Morrinsville), in the direction of Hamilton. This will minimise the need for heavy vehicles to travel through the town,' said the 2013-2033 Morrinsville document.
"The inner industrial area (of Morrinsville) will appeal to service industries dependent on a central location for customer contact. The outer industrial area will have land available to locate new heavy industry, as well as light industries that are less dependent on trade or customer contact."
Development and building intensification limitations on the provision of reticulated water, stormwater and wastewater services to the north of Morrinsville, combined with the positioning of electrical transmission lines, sewerage ponds and peat soils, would also steer future expansion along the State Highway 26 corridor, Smith said.
He said the local body guidelines on tenancy type would allow astute property developers to not only build premises which would find quick council approval through the necessary consenting process, but would also meet the demands of the future tenancy market.
"The intention could well be to develop a 'destination' fringe element to this sector of the existing Morrinsville township boundary," he said.
"This new zone could encompass big-box retailing - with the likes of The Warehouse or Bunnings as the sole tenant on one single plot, building on the automotive sector theme - bearing in mind the 'new' neighbour. The zoning would also allow smaller terraced style light industrial premises housing, say building tradies or small to medium-sized farm servicing firms.
"The shape of the property would lend itself to subdivision and further development, with the end plan being selling down units to owner/occupiers."
Smith says two older-stylehouses on the property would generate up to $30,000 holding income per annum while new plans or development consents were acquired.
The 2013-2033 Morrinsville report has forecast the town's population will grow by between 44-55 households annually.
